'This Is Not a Recovery at All': Stanford's Lazear

Asked by host Larry Kudlow for his take on the Dow Jones Industrial Average -- up more than 13% over the past six months, and 18% over the past two years -- Lazear said that hardly represented a recovery.

Lazear noted that the Dow was near 14,000 pre-recession and now struggles to maintain 13,000.

"It's four years later," he said. "We should be is approximately 12% better, and we're not."

Lazear laid blame for the economic sluggishness with the Obama administration's policies on trade, taxes, regulation and health care, all of which "have not been conducive to business growth."

--Written by Bruno J. Navarro at CNBC.